On 30/6, statistics from VnExpress's second quarter financial reports revealed 13 listed companies held over 26,400 billion VND, or more than 1 billion USD, in cash and bank deposits.

Bao Viet led the list, holding over 170,561 billion VND in cash and deposits by the end of june. In the first half of the year, the group recorded approximately 5,000 billion VND in interest earnings, a 43% increase from the same period last year. Financial report disclosures indicated some Vietnamese dong deposits, with terms of about 12 months, yielded annual interest rates of 8,6-8,9%.

Vingroup followed, holding nearly 85,000 billion VND in cash and deposits, an increase of over 4,000 billion VND since the beginning of the year. In the second quarter, the company reported approximately 1,352 billion VND in interest from deposits, loans, and advances. Vinhomes, a Vingroup subsidiary, also featured prominently with over 55,400 billion VND.

The Gioi Di Dong held over 41,000 billion VND in cash and deposits by the end of june. The retail company reported nearly 1,700 billion VND in interest from bank deposits and loans during the first half of the year. This income highlights the significant profits businesses can generate from substantial cash reserves when interest rates are elevated.

Amid the current high-interest-rate environment, companies have significantly benefited from substantial cash and bank deposit holdings. A VnExpress survey indicated that during the first six months of the year, banks offered common one-year deposit rates between 6,5-7,5%, marking a 1-3 percentage point increase from the end of last year. Certain institutions even advertised rates exceeding 8% annually.

Tran Quoc Toan, director of Branch 2 at Mirae Asset Securities Joint Stock Company, highlighted that substantial cash reserves serve as an effective risk management strategy for businesses. This approach enables them to proactively pursue new investment opportunities, reducing reliance on borrowed capital.

Transactions at a commercial bank. Photo: Giang Huy

Moreover, Toan noted that businesses holding or depositing cash in banks also generates a relatively stable income stream, free from operating costs or market risks.

Statistics from 2025 financial reports revealed 14 companies recorded over 1,000 billion VND in interest from cash and bank deposits, significantly boosting their company results. With higher interest rates this year, these companies anticipate even greater profits from this activity.

For state-owned enterprises, the rationale for holding cash is distinct. A Mirae Asset expert explained that capital preservation and liquidity requirements prioritize the selection of secure investment channels.

Among cash-rich companies, SSI Securities noted that oil and gas and fertilizer sectors typically maintain healthy balance sheets. Despite the current volatile macroeconomic environment, these businesses can still achieve profit growth, albeit at a slower pace.

Concurring, Tran Quoc Toan added that such companies frequently benefit from higher credit ratings, granting them easier access to loans at preferential interest rates.

Conversely, holding excessive cash for prolonged periods can diminish capital efficiency, as deposits typically yield lower returns than operational assets, according to the Mirae Asset expert. This could hinder companies' long-term growth momentum, reducing their attractiveness to growth-focused investors.

Trong Hieu